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Pensions and tax

Last activity 22 April 2015 by TaunyaFaye

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molly428

Hi,

We are hoping to retire in Belize. Does anyone know if the 25% withholding tax on pensions would replace income tax? I don't want Revenue Canada double-dipping.   ;)

Thanks.

kenjee

Hello molly428 and welcome to Expat.com

Hope that some members will soon enlighten this important question!

Kenjee
Expat.com Team

bmcraig

According to what Revenue Canada told us, yes, the 25% is with held as income tax.

TaunyaFaye

Same appears to be true in the US - when you cash out retirement accounts the US Gov wants their money.

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